Greek FSRU Projects in the Pipeline

December 1, 2022

Illustration only - Credit: Karel/AdobeStock
Illustration only - Credit: Karel/AdobeStock

As demand grows for liquefied natural gas in Europe in the wake of the war in Ukraine, Greece has relied heavily on its sole LNG terminal off Athens to replace Russian gas imports. 

Now it is looking to build new floating storage and regasification units (FSRUs) that could be operational by 2024. Here is information on the Revithoussa terminal and other planned projects:


REVITHOUSSA

Greece's sole operational LNG regasification and storage terminal on the Revithoussa islet off Athens has played a pivotal role in the country's strategy to wean itself off Russian gas and boost the security of supplies ahead of winter. 

The country has already cut Russian gas imports by more than half this year thanks to increased deliveries from other producers to the Revithoussa facility, which is 5 miles (40 kms)from Athens and can store 225,000 cubic metres of gas and regasify 1,400 cubic metres per hour.


FSRU OFF ALEXANDROUPOLIS

Gastrade, owned by Greece's Copelouzos family, is developing an FSRU which will be anchored about 18 kilometres off the northern Greek port of Alexandroupolis, carrying gas to shore via a 28-kilometre-long pipeline. It is expected to carry gas to Bulgaria and further to the north once it starts operations by the end of 2023.

Gastrade has said it is examining the construction of a second FSRU off Alexandroupolis.


FSRU OFF VOLOS

Mediterranean Gas plans to build an FSRU off the port of Volos, in central Greece. It has invited LNG producers, traders, large-scale consumers, industrial users and marine and shipping companies to submit non-binding interest in booking capacity by Dec. 19.

The facility, which will have an annual regasification capacity of 5.2 billion cubic metres, will carry gas to North Macedonia, Bulgaria, Romania, Albania, Italy and the rest of Europe.

It is targeting commercial operation in the second quarter of 2023. 

FSRU OFF CORINTH

Dioriga Gas, a unit of Greek refiner Motor Oil, aims to start construction of an FSRU facility off Agioi Theodori, near Athens, in the fourth quarter of the year.

It will have a storage capacity of up to 210,000 cubic metres of gas which will be either regasified and exported through Greece's gas grid or sold as LNG via vessels and trucks.

FSRU OFF THESSALONIKI

Elpedison, a joint venture by Italy's Edison and Helleniq Energy, wants to build an FSRU off the northern city of Thessaloniki, Greece's second largest, by 2025. 

It will have the capacity to store 170,000 cubic metres of gas and deliver up to 20 million cubic metres daily.

Greece can quadruple gas export capacity by 2025 - gas grid operator

(Reuters - Reporting by Angeliki Koutantou; Editing by Kirsten Donovan)



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